By John Lee.
The Iraqi Private Banks League (IPBL) has signed a memorandum of understanding (MoU) with the Association of Energy Engineers (AEE) in Washington, DC, aimed at supporting Iraq's banking sector in financing the transition to a green economy and developing the country's energy infrastructure.
The signing took place on the sidelines of Prime Minister Ali al-Zaidi's state visit to the United States. IPBL President Wadee Al Handal signed on behalf of the association, while AEE Executive Director William Kent signed for the American side.
According to the IPBA, the MoU covers:
- Financing for solar energy projects
- Integration with international financial institutions, including the European Bank for Reconstruction and Development (EBRD), to support upgrades to the national electricity grid
- Capacity-building and knowledge-transfer programmes, including internationally accredited professional certifications
- Technical advisory services for ministries, municipalities, and financial institutions on carbon-reduction projects and ESG governance
(Source: Iraq Private Banks Association)
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